Seattle, WA – November 9, 2017 - Jones Soda Co. (the Company) (OTCQB: JSDA), a leader in the craft soda category and known for its unique branding and innovative marketing, today announced results for the third quarter ended September 30, 2017.
“While we have had a challenging year due primarily to the loss of our Jones 12-ounce can listing, we are very excited by the growth of two of our newer initiatives, Lemoncocco and our Jones Cane Sugar fountain program. During 2017, we have added over 1,000 new retail doors for Lemoncocco including 2 divisions of Whole Foods as well as Safeway NorCal, Raley’s and the Mariano’s grocery chain in Chicago. Lemoncocco represents the Company’s diversification into lower calorie, natural beverages, to better meet changing consumer beverage trends. Equally exciting, our Fountain revenue grew by 200% for the nine month period as we continue to land increasingly larger sized quick service restaurants and accounts,” stated Jennifer Cue, the Company’s CEO.
For the third quarter of 2017, the Company reported revenue of $3.6 million, compared to the prior year’s third quarter revenue of $4.1 million. The Company reported a net loss for the third quarter of 2017 of $211,000 or ($0.01) per share, compared to a net income of $69,000 or $0.00 per share, for the third quarter of 2016.
Third Quarter Review - Comparison of Quarters Ended September 30, 2017 and 2016
• Revenue was approximately $3.6 million compared to $4.1 million for the prior year.
• Gross margin was 24.6% of revenue, compared to 27.0% last year.
• Net loss was $211,000 or ($0.01) per share, compared to net income of $69,000 or $0.00 per share, last year.